Oiling the wheeels

Article Abstract:

Simon Kukes is the head of TNK, a Russian petroleum company ranking fifth in that country. He trained as a chemist, and was born in Russia, later leaving for the US. TNK has been affected by falling production, due to poor exploitation of reserves Kukes has focused on retail sales and exports, and has improved its performance by boosting earnings eightfold to some $587 million in 1999. Kukes aims to increase the company's reserves, though critics argue that TNK should pay creditors rather than make acquisitions.

PETROLEUM AND COAL PRODUCTS, Petroleum, Petroleum and Coal Products Manufacturing, Kukes, Simon, TNK (Russia)

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Sprint start: France's Total

Article Abstract:

Total was France's second largest oil company behind Elf when Serge Tchuruk became Total's CEO in 1990. Since then they have doubled their profits while overtaking Elf in France. The large profits from European refining have gone dry however, and Total faces an uphill battle to sustain their growth.

TOTAL S.A.

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Designer oil: Elf Acquitaine

Article Abstract:

France's state-run oil company Elf Aquitaine embarked on a major expansion policy between 1989 and 1992, but was forced to pull back when the industry got stagnant. To prevent this from happening again, a very questionable policy of diversification has begun.

Government business enterprises, Public enterprises, Elf Aquitaine S.A.

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